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Brent crude futures fell 20 cents, or 0.2%, to $86.46 a barrel by 0435 GMT while U.S. West Texas Intermediate crude was at $79.57 a barrel, down 11 cents, or 0.1%.
Vedanta is present in both ferrous and non-ferrous businesses, including oil and gas, making it highly vulnerable to commodity prices and economic cycles
Rahul Kalantri, VP Commodities, Mehta Equities expects gold and silver to remain volatile this week ahead of the Union Budget and the US Fed meeting outcome. "Gold has support at Rs 56,750-56,610, while resistance is at Rs 57,140, 57,280. Silver has support at Rs 67,850-67,320, while resistance is at Rs 68,950–69,480," he added.
ICICI Direct, The US dollar index posted modest gains on Friday amid a rise in US treasury yields.
According to Geojit , Barring coriander other spices were down on NCDEX on Wednesday. Jeera futures hit its lowest level in about four weeks.
Stock Market LIVE Updates: Power and oil & gas indices tumbled 4-6 percent each.
However, heavy selling pressure in the domestic equity markets and unabated foreign fund outflows restricted the gains in the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened stronger at 81.51 to a dollar.
Adani Enterprises, Adani Ports, SBI, ICICI Bank and IndusInd Bank were among the biggest losers on the Nifty, while gainers were Tata Motors, Bajaj Auto, Dr Reddy’s Laboratories, ITC and Divis Laboratories.
The rupee inched up to 81.5225 to the dollar from 811.59 in the previous session. For the week, the local currency was down 0.5%.
On Wednesday, the U.S. short-seller said it held short positions in the Indian conglomerate, accusing it of improper use of offshore tax havens and flagging concerns about high debt, leading to a massive sell-off of India-listed shares of the conglomerate's companies.
US Natural gas prices at a 21-month low. Catch the latest in commodities with Manisha Gupta.
The top losers on the Nifty were Adani Ports, Adani Enterprises, ICICI Bank, SBI and BPCL. Nifty Auto, Pharma and FMCG managed to end higher, as other sectors tanked
ICICI Direct, The US dollar index recovered from its seven month lows as better than-expected economic numbers showed strength in the US economy and pushed bond yields higher.
Cash volumes drop 16 percent over the previous month as investors turn cautious due to volatility ahead of Budget 2023; fall 18.5 percent in 2022 to register their first drop since 2013
Manoj Kumar Jain, Prithvi Finmart Commodity Research, expects gold and silver to remain volatile ahead of the US PCE price index data to be released later in the day
According to Geojit , Barring coriander other spices were down on NCDEX on Wednesday. Jeera futures hit its lowest level in about four weeks.
PSU Bank, oil & gas, power and metal indices down 4-6 percent.
Brent futures gained 30 cents, or 0.3%, to $87.66 a barrel by 0113 GMT, while U.S. crude rose 21 cents to $81.22 per barrel, a 0.3% gain.
Brent futures rose $1.18, or 1.4%, to $87.30 a barrel by 11:42 a.m. EST (1642 GMT), while U.S. West Texas Intermediate (WTI) crude rose $1.12, or 1.4%, to $81.27.
Brent crude futures dipped 4 cents, or 0.1%, to $86.08 per barrel by 0400 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 18 cents, or 0.2%, to $80.33.
Last week, food secretary Sanjeev Chopra said prices of wheat and atta had increased in the retail market and the government was exploring all options to control the rates.
On the BSE, bank, power and realty indices shed 2 percent each and information technology, capital goods, healthcare and oil & gas indices fell 1-1.7 percent.
Metals trade firm on strong demand estimates. Catch the latest in commodities with Manisha Gupta.
All sectors are trading in the red with financials taking the biggest hit. Nifty PSU Bank tanked over 3 percent and Nifty Bank fell over 2 percent